{"id":93579,"date":"2025-01-21T00:00:00","date_gmt":"2025-01-21T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/21\/sarcc-now-owns-al-nakhla-resort\/"},"modified":"2025-01-21T00:00:00","modified_gmt":"2025-01-21T00:00:00","slug":"sarcc-now-owns-al-nakhla-resort","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/01\/21\/sarcc-now-owns-al-nakhla-resort\/","title":{"rendered":"Sarcc now owns Al Nakhla resort"},"content":{"rendered":"

PIF-owned <\/strong>Smart Accommodation for Residential Complexes Company<\/strong> (Sarcc) acquired<\/strong> Al Nakhla Residential Resort<\/a><\/strong> in a SAR 2.5 bn transaction<\/strong> with Al Nakhla Investment, the company said in a statement<\/a>. The move comes as part of Sarcc\u2019s drive to improve worker accommodation in the Kingdom. <\/p>\n

New ownership, same resort:<\/strong> The PIF subsidiary also entered into a management agreement with Al Nakhla Investment which will cover the resort\u2019s leasing, maintenance and marketing. Despite the ownership change, Sarcc looks to maintain the resort\u2019s reputation as a \u201cpremier residential destination for senior management professionals,\u201d the statement said. <\/p>\n

Background: <\/strong>Sarcc was set up in October<\/a> to address the housing needs of public and private sector staff working in major construction and development projects nationwide.<\/p>\n","protected":false},"excerpt":{"rendered":"

PIF will retain the facilities purpose as a destination for senior management<\/p>\n","protected":false},"author":1,"featured_media":93580,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2575],"tags":[10,14,3726],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93579","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam-ksa","tag-ma-watch","tag-smart-accommodation-for-residential-complexes-company-sarcc","wpautop","entry"],"acf":{"mongo_id":"7f05d0a3-afa2-4240-8e18-db922fe02813","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/1\/1414.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sarcc now owns Riyadh\u2019s Al Nakhla resort","related_issue":[93572],"teaser":"PIF will retain the facilities purpose as a destination for senior management","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/1\/.08499fb6-d9a6-4699-af9d-b4688ff116ce.mp3"},"yoast_head":"\nSarcc now owns Al Nakhla resort - 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